Solana Price Prediction: Bounce or Breakdown? All Eyes on the $170 Reclaim Level
The post Solana Price Prediction: Bounce or Breakdown? All Eyes on the $170 Reclaim Level appeared on BitcoinEthereumNews.com.
Solana is testing a key demand zone near $160, as rising institutional futures activity and ETF momentum hint at a potential breakout ahead. Solana might be gearing up for a major move, as fresh institutional demand collides with key technical support. Market participants are now eyeing the $150 to $160 zone closely, a region that once sparked a powerful rally. Solana trading at around $158.07, down -3.38% in the last 24 hours. Source: Brave New Coin Solana Futures Demand Surges Following ETF Momentum Solana is kicking off August with a powerful data point, CME futures open interest has exploded to $800 million, up 370% from July’s $170 million. The chart shared by SolanaFloor reflects a dramatic shift in institutional appetite, coinciding with the first U.S.-approved Solana staking ETF. This spike puts CME ahead of other major exchanges like MEXC, CoinEx, and KuCoin, showing that traditional finance is now actively stepping into Solana’s ecosystem. Solana CME futures open interest surges 370% in a month, signaling growing institutional appetite amid ETF momentum. Source: SolanaFloor via X This sudden rise in futures exposure isn’t just about speculation; it’s about positioning. As open interest approaches previous cycle highs, market participants are anticipating more than just short-term volatility. With Solana trading near $160, institutional flows tied to ETF optimism could become a foundational driver for both spot and derivatives markets. Solana’s CME futures open interest hits $800M. Source: SolanaFloor via X Solana About to Enter Key Demand Zone Solana’s price action is starting to align with the rising futures activity noted earlier. After topping out above $206, SOL has now corrected back into a familiar demand zone between $150 and $160, a region that previously acted as the launchpad for bullish reversals. The structure shown in the chart shared by BitGuru reveals a clear retracement…
